Butogota Group C, Kihihi
Justus has a business selling electronics from Butogota Central and is able to make 40,000/= as weekly profits from his three-year-old business. He says that before his current business, he used to sell tea, sugarcane and coffee to make a living.
Justus’ electronics include radios, bulbs, electrical wire, and so on. He says that he has seen his business grow to its current state and he is grateful for the loans that have made it happen. He needs a new loan to be able to stock more electronics to sell.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid